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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 395.80+0.1%Dec 15 4:00 PM EST
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To: Riskmgmt who wrote (85938)1/16/2012 11:46:22 AM
From: carranza21 Recommendation  Read Replies (1) of 218511
 
I would look over all my brokerage agreements and see if the broker has the right to rehypotheticate. If possible, and I am not sure it is unless you are an insider, I would also find out to what degree your broker is a counterparty on derivatives subject to preferential treatment in bankruptcy. You can generally find cautionary language in the money fund documents - interest rates are so low that they juice them up a bit with funky stuff.

I would move my shares to a broker with no derivative exposure and with no rehypothetication language in the brokerage agreement.

Best to be a scared chicken than road kill.

I knew Wall St. has essentially captured government, but this BK provision is beyond the pale. Completely and thorughly outrageous.
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